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i would argue automation has hollowed out much of the middle class as well because many tax prepares, people like that, you don't need them anymore because you can use your computer to do it. now we're moving into the low wage sector and that's a sector that had been growing. this month, not as much. good news as we got better jobs this month. >> 203,000 jobs created. unemployment rate, the best it's been since november 2008. and you're on track really here for 2 million jobs, you know, 2 million jobs this year. that's not bad. in fact, it's the best we've seen since 2005. also, you know, car sales were good, too. if you're confident enough to buy a car that tells me the economy is turning. >> i think it's a turning point for people who have -- who have a job or are nearly unemployed. nothing has changed for people unemployed here. >> no, it hasn't. they have a much lower confidence in the economy. they're feeling left behind. and they are left behind. >> you're seeing the low wage paycheck to paycheck worker is holding back. somebody who has a job, savings, not under water, they're s
i would argue automation has hollowed out much of the middle class as well because many tax prepares, people like that, you don't need them anymore because you can use your computer to do it. now we're moving into the low wage sector and that's a sector that had been growing. this month, not as much. good news as we got better jobs this month. >> 203,000 jobs created. unemployment rate, the best it's been since november 2008. and you're on track really here for 2 million jobs, you know, 2...
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we have a good tax break. we're doing all the things -- >> it sounds like you're agreeing with the pope then? >> you look at the result, we have less disparity in the income that can most any other state. we would love to have the pope. he can come to provo anytime. >> you have a deep and personal passion about helping the poor, and i suspect you resonated deeply with pope francis ooze comments which were very powerful and compelling in many ways, but i'm puzzled. wise in the last 30 years we've had dramatic economic growth. i was very fortunate i was there with reagan and with clinton. in the case of the clinton administration when we worked with them, from 1993 to 200, one of the very four people of poverty left poverty, and huge economic growth. about 3 1/2, 4 million people, xw a million and a half people, lost their jobs. why is it so hard to look at the things that have work. try to find a way and say, which of these pieces really worked. find out what are their patterns? and how can we replicate it. >>
we have a good tax break. we're doing all the things -- >> it sounds like you're agreeing with the pope then? >> you look at the result, we have less disparity in the income that can most any other state. we would love to have the pope. he can come to provo anytime. >> you have a deep and personal passion about helping the poor, and i suspect you resonated deeply with pope francis ooze comments which were very powerful and compelling in many ways, but i'm puzzled. wise in the...
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we have a cook county tax, city tax, an epa tax and a variable state tax that is as high as the price of gasoline goes, the higher the price of the taxes. you have to put a stop to the madness and just raising raisine federal tax, it's going to kick consumers in the teeth who are already struggling from higher healthcare cos, uncertain job market, and now late rates the gas taxes. nothing that hurts the american consumer more than higher gas taxes. i'm the first guy who hears about it when tax goes up. >> let's find out where it went and if it's not enough, we can allocate every penny. have at it. but it's wrong. >> thank you very much. again, folks, this comes down to -- take it from the geeks here at fox. money in and money out. we're getting a lot of money coming into the country, a lot of it from all sorts of folks, including you. so the problem is not all the money coming in, it's all the money going out. this is endem nick of what is wrong in the country. we're big on proposing more money to throw at problems but never looking at the money we have already thrown at that problem.
we have a cook county tax, city tax, an epa tax and a variable state tax that is as high as the price of gasoline goes, the higher the price of the taxes. you have to put a stop to the madness and just raising raisine federal tax, it's going to kick consumers in the teeth who are already struggling from higher healthcare cos, uncertain job market, and now late rates the gas taxes. nothing that hurts the american consumer more than higher gas taxes. i'm the first guy who hears about it when tax...
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the revenues have come in, in part, because of the tax hikes which created less damage. the fact is washington getting out of the way is a pre-condition for the private sector. >> i'll let austan weigh in on that. 92,000 federal jobs lost overall this year. do you think washington in action and sequester is hurting holding back the growth? >> it is holding back the growth. i thought it would hold back growth more than it did. i think most of the private sector who look at the economy for 2013 say that the austerity and the fiscal drag cut at least one point or almost two points off the system. i think austerity did not help the growth rate. >> i figured you would be opposite sides of the fence. >> 1% of the 1.5% is the tax hike. 1% of the drag this year out of the 1.5. >> i agree with that. >> meantime, signs this week that maybe i don't know, maybe the bailout -- automakers may be worth it. gm and chrysler, double digit numbers. treasury department planning to sell the last of its stock in gm by the end of the year. so interesting to me. do you think this proves what wa
the revenues have come in, in part, because of the tax hikes which created less damage. the fact is washington getting out of the way is a pre-condition for the private sector. >> i'll let austan weigh in on that. 92,000 federal jobs lost overall this year. do you think washington in action and sequester is hurting holding back the growth? >> it is holding back the growth. i thought it would hold back growth more than it did. i think most of the private sector who look at the...
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only thing they agree is taxes should be lower. if they try to do anything else they run into a freak out problem with the base. they need to try to be willing to let some of those voters go elsewhere or stay home or reach out to new people. until they do that -- >> they need to leech themselves. the republican party has failed in terms of creating a governing platform, the tea party has won in that the goalposts moved far to the right, broud bipartisan, budget talks, extending unemployment benefits is a democratic ask. i wonder what you think -- bernie sanders said to the "washington post," i don't wake up every morning saying oh, my goodness, i don't wake up every morning and say i want to be president. but if nobody is going to do it, i'll do it. there's talk about elizabeth warren, bill dallas i don't, if not more resurgent, ascend ant in the last years. >> one of the things that happens through the end of press tension administration politics gets broader and more imaginative and more hinged to the personalities that run it. b
only thing they agree is taxes should be lower. if they try to do anything else they run into a freak out problem with the base. they need to try to be willing to let some of those voters go elsewhere or stay home or reach out to new people. until they do that -- >> they need to leech themselves. the republican party has failed in terms of creating a governing platform, the tea party has won in that the goalposts moved far to the right, broud bipartisan, budget talks, extending...
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. >> yes, but lichtenstein and switzerland's success in the world has to do with banking and low taxes. >> all right, let's not change the subject. let's go on to whether or not education is something we ought to care abbut as a competitive -- something to help our competitor. >> there are other things we ought to care about more. we should have an environment that encourages immigrants to come to this country. to innovate. to succeed and to have second chances in life in case they fail the first time. that's more important to make sure they're at the same level. >> but that suggestion we just don't care about this issue, we should be able to walk and chew gum at the same time. and also want an education system that improves. the thing is, we know what you need to do to make it better. it's not spending $115,000 per head. it's having some school choice. having merit-based pay for teachers. and in general giving our kids a better environment especially in k through 12 where their instructors are inspiring them and learn these things. >> that's all true. but this isn't the key to nationa
. >> yes, but lichtenstein and switzerland's success in the world has to do with banking and low taxes. >> all right, let's not change the subject. let's go on to whether or not education is something we ought to care abbut as a competitive -- something to help our competitor. >> there are other things we ought to care about more. we should have an environment that encourages immigrants to come to this country. to innovate. to succeed and to have second chances in life in case...
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the tax code has to be flatter and you need to de-special deal the tax code. that sounds easy, but when you get into the details, everybody balks. they might be for tax reform that lowers rates, expands the base and over time helps the economy. if you can put that together you have the possibility of a grand bargain. >> you sound like my president. why did you raise your hand when obviously that question was, are you willing to do a deal 10-1 positive for democrats, negative for republicans. >> when i was the governor, the question isn't will republicans never raise one dime of revenue, they have. what are you getting for it by way of reform and accountability and change? >> stay right there. we're going to try too finish this question up. i have a couple more questions for you. but next, the final question for both of you guys, i also want you folks at home to get involved. you can weigh in on today's fire-back question. do you support extending unemployment benefits for the long-term unemployed? we'll be back after this break. stick with innovation. stick wi
the tax code has to be flatter and you need to de-special deal the tax code. that sounds easy, but when you get into the details, everybody balks. they might be for tax reform that lowers rates, expands the base and over time helps the economy. if you can put that together you have the possibility of a grand bargain. >> you sound like my president. why did you raise your hand when obviously that question was, are you willing to do a deal 10-1 positive for democrats, negative for...
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key is we not have another government shutdown and do keep the spending caps in place and don't raise taxes at a time when the economy is still weak and i think we can accomplish that over the next couple days. >> one issue still being debated extending long-term unemployment benefits. last week house mortgage leader nancy pelosi said any deal must include an extension but dick durbin said that is not the case. >> i don't think we've reached that point where we said this is it take it or leave it. what i hear from patty murray, i spoke to her the other night negotiations are making progress, moving in the right direction. >> congress has scheduled to begin its break this friday and not return until january the 7th. >>> well, a week after that deadly commuter train wreck in new york officials are upgrading signals. the new signals are expected to be up and running this morning. of course, four people were killed last sunday when a metro north train hit a stretch of track at nearly three times the speed limit. metro north now reducing the maximum speeds at 26 locations across the system. an a
key is we not have another government shutdown and do keep the spending caps in place and don't raise taxes at a time when the economy is still weak and i think we can accomplish that over the next couple days. >> one issue still being debated extending long-term unemployment benefits. last week house mortgage leader nancy pelosi said any deal must include an extension but dick durbin said that is not the case. >> i don't think we've reached that point where we said this is it take...
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on those programs, paid for by some revenue and some entitlement cuts but the revenue would not be tax increases, thing like user fee, and entitlement cuts would not be medicare and social security avoiding those hot buttons like curbing federal retirement. the negotiators hope to announce this by the end of the week so congress can act next week. remember when the government was reopened they set a december 13th deadline and democrats and republicans are reasonably optimistic that they can do that next week, guys. >> good stuff there. john harwood, we'll keep a close eye on that. >> this might come as good news to our next guest. a survey out shows ceos are feeling more optimistic about the economy. will that mean more jobs? ask jon engler president of the business round table and former governor of michigan. governor, welcome back to "street signs" here. before we get to the ceo survey, i just got to ask you a question about detroit. your view on the ruling yesterday? >> well, i think it's been pretty foreshadowed by judge rhodes, he's an excellent judge and this is a landmark ruling
on those programs, paid for by some revenue and some entitlement cuts but the revenue would not be tax increases, thing like user fee, and entitlement cuts would not be medicare and social security avoiding those hot buttons like curbing federal retirement. the negotiators hope to announce this by the end of the week so congress can act next week. remember when the government was reopened they set a december 13th deadline and democrats and republicans are reasonably optimistic that they can do...
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. >> she was told you need a license to help people with taxes? >> free enterprise. >> this man after selling t-shirt's here for 30 years you must you must, tom. every bay wood is not on my mind. i forgot p that. >> i have no idea what's in these books. >> each and every one of knees is incomplee hencible to -- incomprehensible. >> i am flipping over this book department of energy reege layingses on the formula for sderm inning the energy efficiency of a commercialite maker. somebody who runs a bar or restaurant can go no the manufacturer and give me an ice maker if it works the market will figure out. >> we don't need the federal government printing capri prehencible. they formed a bizarre bure tratic sanders. it doesn't go away. like the cease. i isn't realize i don't exist any more. >> the mexican gray wolf. the pump back whale. the sea lion. these are engangered species they need information. the act i want both respected. if the bureaucrats would take a idead in and move two for tw it. ambassador our nation for future generations. >> they wan
. >> she was told you need a license to help people with taxes? >> free enterprise. >> this man after selling t-shirt's here for 30 years you must you must, tom. every bay wood is not on my mind. i forgot p that. >> i have no idea what's in these books. >> each and every one of knees is incomplee hencible to -- incomprehensible. >> i am flipping over this book department of energy reege layingses on the formula for sderm inning the energy efficiency of a...
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we have got the earned income tax credit. we have got to make work pay. >> there are many of your colleagues who will say even though it doesn't sound as nice they like the earned income tax credit. it's less -- it's a different kind of potentially more precise tool. what about something like that as an answer here? >> here's the problem. what it does is force the government, force the taxpayer to pick up the cost of the businesses that don't want to pay their employees. we have small businesses that pay low wages, they are privatizing the benefits. but they are sociallizing the cost of the rest of society. a $12 an hour minimum wage would save tens of billions of dollars. >> michael? >> but you still have that group of smaller employers who are going calculate the cost of the extra hourly earnings and say i'm only going hire one and a half people i'm going to reduce to part time. i'm not going to spend more money out of my poblgtcket. and i think it does put pressure on the low end of jobs. >> final word? >> i think $12 an h
we have got the earned income tax credit. we have got to make work pay. >> there are many of your colleagues who will say even though it doesn't sound as nice they like the earned income tax credit. it's less -- it's a different kind of potentially more precise tool. what about something like that as an answer here? >> here's the problem. what it does is force the government, force the taxpayer to pick up the cost of the businesses that don't want to pay their employees. we have...
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the federal government is more taxes and more regulation. we will have the other states. >> we will sell 16 million automobiles. we have 950,000 housing starts. >> next year is going to be the year that it is not that eeoc siting and it's time to be more of an opera player. find the stocks that have a great story, something behind them and allocate your money there. the beta is challenging there. it's hard to move up a lot. they are highly complimentary. we are keeping all the airplanes and all the people. supply should be on change. >> guy? >> talked about this last week. you overlay a honey well chart and you will see the outperformances there. although it has had a meteoric rise, i think that honeywell is interesting. >> i'm long ge. i think they have major exposure. the entire u.s. economy is on trend. to say that we're just trying to get over the trauma here and some of the data is already there. >> will the snow and ice keep shoppers at home or will they bare the elements. dan, always good to see you. what have you seen so far? we have
the federal government is more taxes and more regulation. we will have the other states. >> we will sell 16 million automobiles. we have 950,000 housing starts. >> next year is going to be the year that it is not that eeoc siting and it's time to be more of an opera player. find the stocks that have a great story, something behind them and allocate your money there. the beta is challenging there. it's hard to move up a lot. they are highly complimentary. we are keeping all the...
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. >> meaning the state would take the taxes collected from all over the state and it would go back out -- >> yeah, parse it out. one was because of the detroit losing population. most of it, $44 million, what was a state law that went into effect in 2012 just before the city ran out of cash. >> they pass a bill that takes $47 million out of the ledger of detroit, and detroit files for bankruptcy. >> then the emergency manager appointed by the governor, who is virtually a dictator, did the bankruptcy filing. it was the governor's agent. >> the judge said there is not enough evidence to say the fix was in, what was your opinion of -- when people look at detroit, they say classic story of big government gone awry. too many employees and pensions, why did detroit go bankrupt? >> the numbers just don't depict that. we took a good look at the numbers, the great reception drove unemployment up to 30%. it was a devastating event. since the great depression, they cut their budget by 38%. >> so they are spending 38% less? >> yes. the number of employees per capita in detroit, there is many fewer
. >> meaning the state would take the taxes collected from all over the state and it would go back out -- >> yeah, parse it out. one was because of the detroit losing population. most of it, $44 million, what was a state law that went into effect in 2012 just before the city ran out of cash. >> they pass a bill that takes $47 million out of the ledger of detroit, and detroit files for bankruptcy. >> then the emergency manager appointed by the governor, who is virtually a...
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they passed a tax increase with the president, but in general not a lot moving. things are going to move on and they are looking and talking about hillary clinton and what's going to happen then in 2017 as if he's a lame duck already. >> that doesn't help. this quote is like -- the problem the president has is that perception among democrats in washington that he's already a lame duck. that's what the quote screams. >> you have to separate out what goes on here. the thinking of people here and the calculations and all that. with the rest of the country. >> but i think what happened this year is that it has infected the culture of the political class who are watching the president. i think that turning that around, even if the health care law, the website begins to work better and there were further signs of improvement. it's a larger problem than bouncing back. >> the bigger issue this year is one of the things about this idea that politics, both parties are a mess. both parties. the president is a mess. the alternative seems like the unexpected in 2014 will be h
they passed a tax increase with the president, but in general not a lot moving. things are going to move on and they are looking and talking about hillary clinton and what's going to happen then in 2017 as if he's a lame duck already. >> that doesn't help. this quote is like -- the problem the president has is that perception among democrats in washington that he's already a lame duck. that's what the quote screams. >> you have to separate out what goes on here. the thinking of...
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. >>> well, the battle over sales tax for internet purchases heats up. >>> the most and least corrupt countries around the world. >>> plus, an eighth shark attack off the coast of maui in hawaii this season. this one is fatal. we'll have the details coming up next. ooh, homemade soup! yeah... [ male announcer ] campbell's homestyle soup with farm grown veggies. just like yours. huh. [ male announcer ] and roasted white meat chicken. just like yours. [ male announcer ] you'll think it's homemade. i love this show. [ male announcer ] try campbell's homestyle soup. before using her new bank of america credit card, which rewards her for responsibly managing her card balance. before receiving $25 toward her balance each quarter for making more than her minimum payment on time each month. tracey got the bankamericard better balance rewards credit card, which fits nicely with everything else in life she has to balance. that's the benefit of responsibility. apply online or visit a bank of america near you. >>> in the news this morning, a man fishing from a kayak off the coast of maui was atta
. >>> well, the battle over sales tax for internet purchases heats up. >>> the most and least corrupt countries around the world. >>> plus, an eighth shark attack off the coast of maui in hawaii this season. this one is fatal. we'll have the details coming up next. ooh, homemade soup! yeah... [ male announcer ] campbell's homestyle soup with farm grown veggies. just like yours. huh. [ male announcer ] and roasted white meat chicken. just like yours. [ male announcer ]...
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a lot for the tax that we pay. >> what's the highest tax bracket here in canada? >> probably 50 percent. >> 50? >> coming from a [ bleep ] homeless [ bleep ] person who gets no access to [ bleep ] health care i think it's a joke. >> you're not crazy about it, are you? >> what is your experience inter acting with the health care system? >> excellent. >> obama is trying to emulate the socialist health care. >> we have a socialist health care? >> i'm on my way to being tammy. my name is tom. >> obama is trying to emulate you. i think it's a train wreck. >> everybody blames canada. >> in this department we have homeless people, bank presidents side by side. >> have you heard of obama care? >> obama care? >> yeah. >> is that a violent thing? >> sounds like a monster movie. >> are you satisfied with your health care here in canada? >> no. we don't enjoy waiting months for an appointment. it's not the most effective way. >> did you have to wait in any line? >> yeah, about 8 hours. >> anywhere between four to six hours. >> if the canadian health care system is so good, wh
a lot for the tax that we pay. >> what's the highest tax bracket here in canada? >> probably 50 percent. >> 50? >> coming from a [ bleep ] homeless [ bleep ] person who gets no access to [ bleep ] health care i think it's a joke. >> you're not crazy about it, are you? >> what is your experience inter acting with the health care system? >> excellent. >> obama is trying to emulate the socialist health care. >> we have a socialist health care?...
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what about tax reform. they always talk about it. immigration reform. that farm bill is already two years overdue. with all this unfinished business, what are they doing? let me give you a hint. according to "the washington post" only five days are planned in december when the house and the senate will both be in washington. just five days for senators and members of congress to work together and actually solve problems. they don't operate in a vacuum. they can't get work done if they're not both working together or even working. that is a fact. now, that's not to say some are not working. it's the institution that's the problem. the institution has a lousy work ethic. as long as we are content to be the enablers, you and me, it'll get worse. my view, time's up. either they stay in washington for a full month of work in december and prove they really care, or they should be voted out. no questions asked. and regardless of party. if you don't want to work. just go. that's my off the record comment tonight. if you have an important story or issue you thin
what about tax reform. they always talk about it. immigration reform. that farm bill is already two years overdue. with all this unfinished business, what are they doing? let me give you a hint. according to "the washington post" only five days are planned in december when the house and the senate will both be in washington. just five days for senators and members of congress to work together and actually solve problems. they don't operate in a vacuum. they can't get work done if...
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even though it's government-run, income tax as high as 50%. they like it. isn't it possible that americans will learn to love. >> why is that most canadians with significant resources come to the united states? >> 40,000 came to the united states. 40,000. >> they have serious issues. cancer treatment. >> that's a lot. >> come to the united states, why? we used to be -- >> -- you don't think that it's possible that americans will be persuaded like canadians have been. you don't think so? >> i don't think so. i think over the next year you are going to see implosion of this where it's not going to work. >> okay. colmes, somethin' tells me that you will go down with the obamacare ship. he is the captain. >> why would you say such a thing. >> one of the loyal guys. >> i'm not one of the nay sayers like you people. >> even if it blows up. >> the right wing wants it to blow up because they want to be able to say i told you so. >> that's true. >> if it works, they are all wrong. this is more about midterm elections now. they are not going it appeal obamacare. that
even though it's government-run, income tax as high as 50%. they like it. isn't it possible that americans will learn to love. >> why is that most canadians with significant resources come to the united states? >> 40,000 came to the united states. 40,000. >> they have serious issues. cancer treatment. >> that's a lot. >> come to the united states, why? we used to be -- >> -- you don't think that it's possible that americans will be persuaded like canadians...
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decent health insurance at a reasonable cost through choice and competition on this marketplace and tax credits that you may be eligible for that can save you hundreds of dollars in premium costs ever month potentially. we need people now that we're getting the technology fixed, we need you to go back and take a look at what's going on because it can make a difference in your lives and lives of your families. and maybe it won't make a difference right now if you're feeling healthy, but i promise you, if somebody in your family heaven forbid gets sick, you'll see the difference. it will make all of the difference for you and your family. i'm going to need help in spreading the word. i'll need help in spreading the word. spread the word about the law, its benefits and its protections and about how folks can sign up, tell your friends and family. do not let the initial problems with the website discourage you. because it's working better now and it's just going to keep working better over time. every day i check to make sure it's working better. and you know, we've learned not to make wild
decent health insurance at a reasonable cost through choice and competition on this marketplace and tax credits that you may be eligible for that can save you hundreds of dollars in premium costs ever month potentially. we need people now that we're getting the technology fixed, we need you to go back and take a look at what's going on because it can make a difference in your lives and lives of your families. and maybe it won't make a difference right now if you're feeling healthy, but i...
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if you gone out and said people who voted for me i'm going to raise your taxes by $1,000, $2,000. people making 25, $30,000 right out of college. effectively by making them pay more for healthcare is that tax increase. >> a lot not happy with the nsa surveillance. >> younger voters more skeptical of government surveillance it seems. division that a lot of people hadn't heard of edward snowden and evenly split whether he was a patriot or traitor among those who had heard of him. >> what does this mean to the democratic party? people unhappy with the president and unhappy with obamacare and don't like the nsa. are they moving to the republican party or independent or are they just staying home. >> biggest increase is independents. that's still bad news for the democrats. they need the base to turn out in 2014 and 2016. if they're dase luciened. right now young voters are more disillusioned than they were in 2009 before the historical republican wave in 2010. it's looking bad for the democrats right now. >> are the democrats worried about this? do they seem -- see this as a real thre
if you gone out and said people who voted for me i'm going to raise your taxes by $1,000, $2,000. people making 25, $30,000 right out of college. effectively by making them pay more for healthcare is that tax increase. >> a lot not happy with the nsa surveillance. >> younger voters more skeptical of government surveillance it seems. division that a lot of people hadn't heard of edward snowden and evenly split whether he was a patriot or traitor among those who had heard of him....
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let's maybe take a look at us cutting taxes rather than increasing taxes for those who can afford it. he didn't do that. he attacked the most vulnerable in that city and that's wrong. morally it's wrong and we believe legally it's wrong and that's why we're appealing the decision. >> beyond that, obviously, and we talked about this, detroit could be just the tip of the iceberg. yesterday, for example, illinois lawmakers passed a measure to cut pension costs, including raising the retirement age. what do you see as the big picture fight here? what do you see as the impact of this decision for public retirees and workers today? >> well, i think that it will spread. i'm not convinced that you'll have a lot of cities filing for bankruptcy, but i am convinced that you will have actions taken by state legislators and governors and mayors around the country to take the easy way out and to attack workers, to attack retirees rather than looking at the overall picture and understanding and making the statement that in these tough economic times, everyone must sacrifice. not a certain segment of
let's maybe take a look at us cutting taxes rather than increasing taxes for those who can afford it. he didn't do that. he attacked the most vulnerable in that city and that's wrong. morally it's wrong and we believe legally it's wrong and that's why we're appealing the decision. >> beyond that, obviously, and we talked about this, detroit could be just the tip of the iceberg. yesterday, for example, illinois lawmakers passed a measure to cut pension costs, including raising the...
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you can get tax-free money from the equity in your home. you can use the money to pay off your current mortgage if you have one. the remaining money can be used for anything. there's no monthly mortgage payments. and you still own your home! call today to get your free guide and dvd. it explains how a government-insured reverse mortgage works. there's no obligation. one reverse mortgage is a quicken loans company. their licensed experts can answer all your questions. call to find out what a great solution this can be. don't wait, call now! >>> some scary breaking news out of toledo, ohio, this morning. it's a high school at the old west end of toledo. we understand from the police and affiliate reports that there may be a 15-year-old with a gun inside scott high school. now, we don't know for sure if that's true. but we do know authorities have contained a student who is 15 years old to one classroom. and we do know that negotiators are now on the scene trying to talk that student out of that classroom. according to the toledo blade, parent
you can get tax-free money from the equity in your home. you can use the money to pay off your current mortgage if you have one. the remaining money can be used for anything. there's no monthly mortgage payments. and you still own your home! call today to get your free guide and dvd. it explains how a government-insured reverse mortgage works. there's no obligation. one reverse mortgage is a quicken loans company. their licensed experts can answer all your questions. call to find out what a...
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Dec 6, 2013
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we're talking about putting off decisions about raising taxes or cutting medicare and social security. we also have a last-minute hangup over unemployment benefits, the extension of unemployment benefits. democrats want that, republicans say they're not that serious about it, it's not clear whether or not democrats are going to put their foot down and say no deal until then. what i think we know is that there will not be a deal today. house leadership aide told me he expects early next week a deal to be announced by patty murray, the democratic chair of the budget committee in the senate. paul ryan, the republican budget committee chair in the house. then the house and senate pass it before christmas. they leave next week actually for their christmas break. so they would end the year on a positive note. it would dramatically reduce the risk of a government shutdown in january and does not resolve our long-term budget issues. >> does it resolve the debt ceiling deadline which is some time in early february? would that be taken care of here? >> don't think it would be taken care of in t
we're talking about putting off decisions about raising taxes or cutting medicare and social security. we also have a last-minute hangup over unemployment benefits, the extension of unemployment benefits. democrats want that, republicans say they're not that serious about it, it's not clear whether or not democrats are going to put their foot down and say no deal until then. what i think we know is that there will not be a deal today. house leadership aide told me he expects early next week a...
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>> property taxes are being collected as we speak. i think it's a misnomer, because some of the numbers that i see are numbers that go back to 2009 when i first came into office where it was said there's 100 to $150 million of uncollected taxes. you go back 10 years ago using the same numbers, it's not realistic. number one, a lot of those people are businesses that are no longer here. we need the number as it relates to taxes. the same thing holds true for empty houses. i see the number constantly at 78,000. that's not a right number. it's a moving number on a monthly basis but it's not near to 78,000. >> when you say -- >> that was detroit mayor dave bing speaking on the ruling moments ago that detroit can file chapter 9 bankruptcy. he'll be joining us later this hour. but first "twelve days of christmas" and
>> property taxes are being collected as we speak. i think it's a misnomer, because some of the numbers that i see are numbers that go back to 2009 when i first came into office where it was said there's 100 to $150 million of uncollected taxes. you go back 10 years ago using the same numbers, it's not realistic. number one, a lot of those people are businesses that are no longer here. we need the number as it relates to taxes. the same thing holds true for empty houses. i see the number...
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but we also get a lot for the tax that we pay. >> what is the highest tax bracket here in canada? >> probably 50%. >> 50? >> yeah. >> sounds con fiscatory. >> coming from a [ bleep ] homeless person who gets no access to any health care, i think it's a joke. >> you're not crazy about it, are you? >> what has your experience been like interacting with the canadian health care system? >> excellent. >> obama is trying to emulate the socialized health care system here in canada. >> we have a socialized health care? >> use your brains a little bit. >> what are you? >> i'm on the way to being tammy. i used to be tom. >> yes, making excellent progress. >> and does the canadian health care system pay for that? >> under certain circumstances, they will. >> see, obama is trying to emulate you guys. and now it's a train wreck. so i think it's your fault. >> everybody blames canada, right? ♪ blame canada, blame canada >> in this emergency department here we have homeless people, we have bank presidents. they're side by side. >> have you heard of obama care? >> obama care? >> yeah. >> is tha
but we also get a lot for the tax that we pay. >> what is the highest tax bracket here in canada? >> probably 50%. >> 50? >> yeah. >> sounds con fiscatory. >> coming from a [ bleep ] homeless person who gets no access to any health care, i think it's a joke. >> you're not crazy about it, are you? >> what has your experience been like interacting with the canadian health care system? >> excellent. >> obama is trying to emulate the...
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economy because these are the job creators that you're taxing more. that hasn't necessarilily worked out like that so far. >> you capital applaud what we got through the first nine months of this year. we're seeing some strength. i don't think that move helped overall growth. did he it will for other reasons, fairness in taxation. i understand that. the thing weigh need to look for is whether the jobs we're now getting will come from new businesses. historically, new job growth comes from new business escreation. can we see that change, great. >> give me your forecast for 2014. >> i still think we're seeing modest growth, ramping up from 2% to something like 2.4, maybe 2.6. i would like to see us at 3.5. >> 3.6 is pretty impressive. >> we like the sound of 2.6. >> i'd like to see 5 or 6%. douglas aikin, thanks very much for coming in. always good to have you here at cnn. >>> today people in south africa and around the world are plourning an iconic leader who went to prison, became a prisoner and then he became president of his country. we're learning
economy because these are the job creators that you're taxing more. that hasn't necessarilily worked out like that so far. >> you capital applaud what we got through the first nine months of this year. we're seeing some strength. i don't think that move helped overall growth. did he it will for other reasons, fairness in taxation. i understand that. the thing weigh need to look for is whether the jobs we're now getting will come from new businesses. historically, new job growth comes from...
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those federal taxes. and so, i don't -- i think people can very, very easily see through it. it's quite transparent. and again, we haven't gotten away from the 2010 comments. no one's ever going to forget the comments on the campus of howard university, because that is the way that people think the republicans relate to different demographics, that they pander to them, they talk down to them, they think they're less intelligent, think they don't understand history. so, rand paul has fallen into the sort of traps of republicanism over the last, you know, several decades or so, and i think it's very transparent at this point. >> there is a way, i think, to cash this out. i mean, if you're rand paul. whether this is a stunt or not, which is be a warrior on capitol hill for standard drug laws, and he does support standard drug laws, his voting record is pretty good on this, but it's a question of where you put your political capital. put yourself on the line, take political risk, go talk to your own constitue
those federal taxes. and so, i don't -- i think people can very, very easily see through it. it's quite transparent. and again, we haven't gotten away from the 2010 comments. no one's ever going to forget the comments on the campus of howard university, because that is the way that people think the republicans relate to different demographics, that they pander to them, they talk down to them, they think they're less intelligent, think they don't understand history. so, rand paul has fallen into...
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it was probably the last cyber monday without sales tax for millions. states want tax revenue. online retailers want tax-free shopping. brick and mortar shops want online retailers to have the same taxes. uncollected sales tax, so the states want to find ways to get that tax revenue from web retailers. the sproem court decided not to get involved in appeals from amazon and overstock.com. the court let stand a ruling from a new york court requiring that internet retailers collect sale taxes even if they have no physical present in the state. this effectively ends, carol, ends tax-free shopping online for people and gets other states thinking about how they can bring in more taxes, too, carol. >> christine, thanks. >>> seattle seahawks fan base has done it again! loud, right? fans set another guinness world record against the saints. all that yelling and stomping actually registered as an earthquake in the one to two magnitude range according to a professor from the university of washington. that is insane! >>> something else insane. you know that old saying in sports if you ain'
it was probably the last cyber monday without sales tax for millions. states want tax revenue. online retailers want tax-free shopping. brick and mortar shops want online retailers to have the same taxes. uncollected sales tax, so the states want to find ways to get that tax revenue from web retailers. the sproem court decided not to get involved in appeals from amazon and overstock.com. the court let stand a ruling from a new york court requiring that internet retailers collect sale taxes even...
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federal state and local taxes. so as these credits become stressed and distressed, and these situations emerge, firms like ours, other firms, become interested in the relative value of these bonds. so it's in these times and others, frankly, that we welcome a liquidity, the increased liquidity and the increased participation of professional investors who have a sense of how to navigate these waters. >> briefly, lawrence, is puerto rico too big to fail? >> i wish it were that simple. puerto rico has an enormous number of issues to confront. and frankly, dwarfs detroit by comparison in size. you're looking at $70 billion worth of issuance that is eye bi ubiquitously held. puerto rico is a complex problem, dwarfing detroit by size and magnitude. >> lawrence, thank you for joining us this morning. >> i appreciate it. >> we'll take a short break. still to come, it is a case of unhappy meals. can the protests make a u.s. minimum wage more or less likely? [ male announcer ] how can power consumption in china, impact wool
federal state and local taxes. so as these credits become stressed and distressed, and these situations emerge, firms like ours, other firms, become interested in the relative value of these bonds. so it's in these times and others, frankly, that we welcome a liquidity, the increased liquidity and the increased participation of professional investors who have a sense of how to navigate these waters. >> briefly, lawrence, is puerto rico too big to fail? >> i wish it were that simple....
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Dec 4, 2013
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funny, we walked into december saying it's the best time of the year, why would you want to pay the tax year? >> there's a lot of people positioning themselves for a big number on friday in the nonfarm payroll. they say why not teak profits. alternatively there's a vacuum of information and people say i got a great year. i'm concerned only that when you get to 3 there will be another wave of selling and that may be when you buy. that wave of selling. not this wave. >> do a little picking. always good to pick. >> we did come into this week giving all the reasons why there were very few reasons to sell. >> and that was bad. i fell into that complacency. by the way, there is one place where we saw -- i want to point out i like oil here. you have opec saying all the right things, you have no real cutbacks. you have this glut finally ending because you finally got the selling keystone part out of curbing. that is very good for the domestic oil companies and not so good for the refiners. >> the biggest losers this morning, valero -- >> a lot of people said goi goto get into refineries, i got
funny, we walked into december saying it's the best time of the year, why would you want to pay the tax year? >> there's a lot of people positioning themselves for a big number on friday in the nonfarm payroll. they say why not teak profits. alternatively there's a vacuum of information and people say i got a great year. i'm concerned only that when you get to 3 there will be another wave of selling and that may be when you buy. that wave of selling. not this wave. >> do a little...
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the abe government unveiled the $54 billion stimulus package that's aimed at offsetting the sales tax in april. and the shanghai composite pulled further ahead. meanwhile, the hang seng index added 0.1%. elsewhere, south korea and australia both ended just a tad lower. as for individual stocks, chinese property stocks came under some pressure after the official china securities journal reported beijing may remove caps on property prices next year, replacing them with supply side indicators and concerns still linger over a potential property tax system. now for some outperformers, let's take a look at the region's apple suppliers, seeing a strong boost from hopes that china mobile may reach a deal with apple to offer iphones. some phone displaymakers, cameramakers and case suppliers rebounded some 5% in today's trade. back to you, karen. >> sixuan, thank you very much update. charles has been telling us about this u.s. cash flood that you're expecting. are you saying buy u.s. assets, buy u.s. equities in 20 s14? >> things probably weaken at the moment because a lot of guys made a lot o
the abe government unveiled the $54 billion stimulus package that's aimed at offsetting the sales tax in april. and the shanghai composite pulled further ahead. meanwhile, the hang seng index added 0.1%. elsewhere, south korea and australia both ended just a tad lower. as for individual stocks, chinese property stocks came under some pressure after the official china securities journal reported beijing may remove caps on property prices next year, replacing them with supply side indicators and...
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i think what will happen when you get to year end, a lot of muni funds will be pressured more, tax law selling -- >> lots. >> you'll do okay buying these funds at a discount. >> we won't necessarily see that pressure from the broader market, certainly. people maybe the last couple of years, any harvest, time is running out. >> there's still lots of things to harvest this year. lots of munis you can swap out of. munis are out. those are good places to swap into a different fund if you need to. take the loss, put it in your pocket if you don't need it and carry it forward. tax law accounting is huge in investing. >> we've been out of the muni market for the past 14 to 15 months when munis started getting back over 5% we've been a buyer. we've been aggressively buying municipal bonds. >> rob morgan any opinion on that before we go, quickly? >> absolutely. i think having a portfolio for individual investor tilted more toward short end and rising rate environment makes sense. i think detroit bankruptcy spells trouble more for retirees on pension plans more for than muni bond investors. >> a
i think what will happen when you get to year end, a lot of muni funds will be pressured more, tax law selling -- >> lots. >> you'll do okay buying these funds at a discount. >> we won't necessarily see that pressure from the broader market, certainly. people maybe the last couple of years, any harvest, time is running out. >> there's still lots of things to harvest this year. lots of munis you can swap out of. munis are out. those are good places to swap into a...
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and the rates in new york with sales tax and everything and income taxes, state income taxes are roughly the same rate. so the tax equalization. i don't pay double. it gets offset. >> i don't know what that says, now we're equal to -- >> it's about 50%, basically is the marginal rate. >> you think that's fine? >> well, the british government reduced it from 50% to 45% and i thought that was wrong at the beginning of the conservative coalition because they said they were doing it to try and increase entrepreneurial activity. i think the best way to do that is a capital gains tax, not income tax. so i think that was misplaced. and i think at a time when people were worried about inequality and equality, which was high on the political agenda, i think it was the wrong thing to do. >> it brings up a lot of issues about income equality. and we know the one thing that solved income equality is growth and jobs. growth and jobs. not entitlements, not redistribution, it's growth and jobs. and some of the efforts to do it the other way, to have the government orchestrate a shrinking of it -- >> fa
and the rates in new york with sales tax and everything and income taxes, state income taxes are roughly the same rate. so the tax equalization. i don't pay double. it gets offset. >> i don't know what that says, now we're equal to -- >> it's about 50%, basically is the marginal rate. >> you think that's fine? >> well, the british government reduced it from 50% to 45% and i thought that was wrong at the beginning of the conservative coalition because they said they were...
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the other side says, we need a better, more simplified tax policy. and they have a good point as well. what can you guys bring to the table that will help clarify things to end some of the gridlock that exists so badly in washington right now? >> this is a good question. the first thing you need to make a good decision is good analytics and good commentary. information to make a good decision. we hope to be able to bring really good information that's nonpartisan, reliable and authoritative to the process. that's point one. the other thing i would say is that from my perspective today, in terms of where we are with fiscal policy, both our long-term policy, which is undisciplined and has excessive spending going out forever, and our short-term policy which is tightening, are both wrong. in fact, what you want to do is precisely opposite. have a little stimulus for the economy to get it going but have long-term reform of the entitlemen entitlements, certainly for the business community they can invest and hire because our policy stance is in good shape
the other side says, we need a better, more simplified tax policy. and they have a good point as well. what can you guys bring to the table that will help clarify things to end some of the gridlock that exists so badly in washington right now? >> this is a good question. the first thing you need to make a good decision is good analytics and good commentary. information to make a good decision. we hope to be able to bring really good information that's nonpartisan, reliable and...
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nokia owes up to $3.4 billion in taxes. they earlier said they owed $2.4 million. it's quite a big jump. we'll keep our eyes on that. anyway, that's a big bill if it's true. >>> eads, meanwhile, has outlined a restructuring plan which will enhance its business competitive. stephane is in paris with the reaction and the detail. stephane. >> and among the reactions, the french labor minister says it's unacceptable for eads to get overall stat in france. he said the large company and profitable group like eads should have a duty to ensure that there are no forced layer. the comments came just a few hours after eads announced 5,800 job cuts. restructuring will affect roughly 2,000 jobs in germany, 1,260 in france, 567 in spain and 550 in the united kingdom. in france, eads is going to sell its paris headquarter, since the headquarter of the company has been moved. the plan will be implemented over the next three years. some of the terms will be offered in terms of mobility. but eads warned this morning that there could be additional job cuts in the future should the bu
nokia owes up to $3.4 billion in taxes. they earlier said they owed $2.4 million. it's quite a big jump. we'll keep our eyes on that. anyway, that's a big bill if it's true. >>> eads, meanwhile, has outlined a restructuring plan which will enhance its business competitive. stephane is in paris with the reaction and the detail. stephane. >> and among the reactions, the french labor minister says it's unacceptable for eads to get overall stat in france. he said the large company...
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. >> again, that's people i think not wanting to take tax -- not wanting to have to pay a tax bill. really, again, "usa today" wall street looks like pamplona. you think this is an article which says bubble, bubble, bubble. instead it is about how broad the advance is. it's a very positive article how the advance is different from some of the advance that is have led to big falls. very smart piece. >> the dow's gained year to date three times the gain of last year. do you expect that trend to continue into 2014? in any way? >> i think it's very hard if we forget we will have another washington bruising. right? do you think anything's gotten better there? i mean, we don't mention the health care. everyone talks about the health care site. i saw oracle mentioned as a possible problem in the "the new york times" piece and a thing that dazzles me is how we forget. right now. that there's a republican party that hates the president. but in another month we'll talk about that ian good for 6%, 7%, 8% decline. >> without a doubt and facing the same issues we faced a couple of months ago. >>
. >> again, that's people i think not wanting to take tax -- not wanting to have to pay a tax bill. really, again, "usa today" wall street looks like pamplona. you think this is an article which says bubble, bubble, bubble. instead it is about how broad the advance is. it's a very positive article how the advance is different from some of the advance that is have led to big falls. very smart piece. >> the dow's gained year to date three times the gain of last year. do you...
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had he to raise taxes in order to cut the $11 billion deficit. raising taxes is not something that's designed to make you very popular as well as cutting government spending. i spoke with the finance minister and he's pretty b buoyant. the public outcry on that, people are pretty pleased. i did ask him, is this just kicking the can down the road. take a listen. >> we have to reduce government expenses in a way that will not hurt all the services we want to give to the government. the fight for efficiency in all the governments around the world is a hard fight. we know now things we didn't know before about how to do it because we've been doing it for quite a while. this is why things are better now. i think we're going to have a new fiscal rule which will allow us to reduce government expenses in a way that will allow us not to raise taxes. >>ing where do you see that in order not to raise taxes in 2014, 2015. >> i can tell you we're not going to hurt the budgets of education because we are an education modulated government and of course health a
had he to raise taxes in order to cut the $11 billion deficit. raising taxes is not something that's designed to make you very popular as well as cutting government spending. i spoke with the finance minister and he's pretty b buoyant. the public outcry on that, people are pretty pleased. i did ask him, is this just kicking the can down the road. take a listen. >> we have to reduce government expenses in a way that will not hurt all the services we want to give to the government. the...
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you can get tax-free money from the equity in your home. you can use the money to pay off your current mortgage if you have one. the remaining money can be used for anything. there's no monthly mortgage payments. and you still own your home! call today to get your free guide and dvd. it explains how a government-insured reverse mortgage works. there's no obligation. one reverse mortgage is a quicken loans company. their licensed experts can answer all your questions. call to find out what a great solution this can be. don't wait, call now! >>> health officials in north carolina con if i wering three adults have now died of complications from the flu. the first flu deaths in a year in that state. we have an expert here with us from nashville. good morning. >> good moung. >> so when you hear these things, it's pretty scary. people die from the flu every year, we hear. will this year be particularly bad? >> well, it's difficult to know because we're still very early in the season. it's important to realize that the flu season has come very muc
you can get tax-free money from the equity in your home. you can use the money to pay off your current mortgage if you have one. the remaining money can be used for anything. there's no monthly mortgage payments. and you still own your home! call today to get your free guide and dvd. it explains how a government-insured reverse mortgage works. there's no obligation. one reverse mortgage is a quicken loans company. their licensed experts can answer all your questions. call to find out what a...
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you're not going to have that big tax loss fear. a lot of people saying i can find inexpensive tech, i don't need to go into the cloud. although apple is saying this is about ibm being wrong and apple being right. >> there has been an expectation of a china mobile deal. >> yes. >> unbeknownst to most people who hold the stock. that being said, 740 million china mobile subscribers, there is a fairly large audience they could conceivably be addressing to try to buy smartphones. >> do you remember the conference call that was the open rebellion against tim cook? it was withone of these things e i thought it was 1948 where stillwell had just lost china and now he's making a move. he did not lose china. >> we'll see. that fortune story has a lot of people talking about whether china mobile makes a big move in this direction, having not carried their phones till now. >> maybe samsung -- don't hear a lot about samsung having a revolutionary new phone. >> no, although they've got a lot of new patents, they're going to do the curve thing or
you're not going to have that big tax loss fear. a lot of people saying i can find inexpensive tech, i don't need to go into the cloud. although apple is saying this is about ibm being wrong and apple being right. >> there has been an expectation of a china mobile deal. >> yes. >> unbeknownst to most people who hold the stock. that being said, 740 million china mobile subscribers, there is a fairly large audience they could conceivably be addressing to try to buy smartphones....
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if you are a foreigner for tax purposes. your non-residence for tax purposes. they'll start charging capital gains tax on residential properties when you sell. guys, back to you. >> all right, simon, thank you so much. >>> let's get a check on energy and commodities. sharon epperson at the nymx today. hey, sharon. >> hey, carl. we told you about the surge in natural gas on the storage data that was much more bullish than expectations. looking at natural gas continuing the rise, up almost 3%, and we're up about 10 cents on the session. we're continuing to watch what's happening with oil prices, as well, because it's a mixed picture there with brent crude down right around 11 -- 111.50 a barrel. but we're looking at the u.s. oil, the wti contract, which continues to climb here, well above $97 a barrel, and that spread between the two has come in significantly from last week. of course, we do know we did get a decline in crude supplies for the week, the first time that's happened in 11 week, but total petroleum demand is at the highest levels of the year, and that
if you are a foreigner for tax purposes. your non-residence for tax purposes. they'll start charging capital gains tax on residential properties when you sell. guys, back to you. >> all right, simon, thank you so much. >>> let's get a check on energy and commodities. sharon epperson at the nymx today. hey, sharon. >> hey, carl. we told you about the surge in natural gas on the storage data that was much more bullish than expectations. looking at natural gas continuing the...
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it wouldn't close any tax loopholes. those things have proven too partisan for these budget negotiators to tackle. yesterday, in the nfl, the kicker for the denver broncos made a 64-yard field goal. record for the nfl. this is more like a 6-yard field goal. they haven't kicked it yet. i do think they will before congress goes home. it is a minimum achievement for people to cheer about. >> john, it is interesting when you talk about some of the little sticking points here. one is the benefits for the long-term unemployed. that is making up a record percentage of the people in this country who are unemployed. do you get the sense that congress is looking at the jobs report and saying, hey, maybe we shouldn't move the needle on that right now? >> i think that is difficult in part, because when you look at the size of this deal, we are only talking about $90 billion over two years of lifting the sequester caps and replacing them. it is more of a reshuffle. the unemployment extension would cost $25 billion. that is a very lar
it wouldn't close any tax loopholes. those things have proven too partisan for these budget negotiators to tackle. yesterday, in the nfl, the kicker for the denver broncos made a 64-yard field goal. record for the nfl. this is more like a 6-yard field goal. they haven't kicked it yet. i do think they will before congress goes home. it is a minimum achievement for people to cheer about. >> john, it is interesting when you talk about some of the little sticking points here. one is the...
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frankly, we need comprehensive tax legislation. and if we got that, i think it would make us all more competitive. certainly help our business, i'm sure. but those two or three things, i think, are our headwinds right now. >> immigration reform, is that something important to you as well? >> very important. it is very important to us. we do bring in people. we need talented people. we need skilled workers regardless of where they come from. so getting some sort of immigration reform is important to us. >> frank freetdman, great to see you. thank you for joining us. >> appreciate it. >> my pleasure. >> thank you very much. >> we have about 40 minutes left to go before the closing bell. the dow now up about 174 points. 18 points or so on the s&p. it is sitting below the 1805 level that would put us back in the black for the week. >> while shoppers are hunting for holiday gifts, some retailers are shopping for a present that could last a whole year and a lot longer. a new ceo. we have that story coming up. >>> and one retailer not loo
frankly, we need comprehensive tax legislation. and if we got that, i think it would make us all more competitive. certainly help our business, i'm sure. but those two or three things, i think, are our headwinds right now. >> immigration reform, is that something important to you as well? >> very important. it is very important to us. we do bring in people. we need talented people. we need skilled workers regardless of where they come from. so getting some sort of immigration reform...
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to your taxes or ok pay whatever you think makes sense but any current government tax demands are ludicrous because i support a military that's out of control and does nothing good for anybody ok well we're out of time john mcdonogh time to time to go ok well i have to go get some more there is intergalactic currency units because i'm heading to andromeda galaxy later make sense of the second to a lot more. right . first for you and i think you're. on our reporters. in. the in the. i was thinking somehow i had to come back because mom was waiting for me. i just knew that everything would be fine for some reason we were so confident because we were going to get married officially after he came back how could he not come back because the mere thought of it never crossed her mind. when the militants decided to try and break through her new guinea airport screening. they splosion blow them all round his back the rule was a little and it was all over all of us. we know that our call moran's on our commander won't leave us no matter how tough it gets we're team. getting was a senior in his milita
to your taxes or ok pay whatever you think makes sense but any current government tax demands are ludicrous because i support a military that's out of control and does nothing good for anybody ok well we're out of time john mcdonogh time to time to go ok well i have to go get some more there is intergalactic currency units because i'm heading to andromeda galaxy later make sense of the second to a lot more. right . first for you and i think you're. on our reporters. in. the in the. i was...
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ceased to exist if the euro does go belly up the german authorities could potentially still collect tax if everyone started using bitcoin that's a good example of german forward thinking well the germans appreciate the engineering behind but the germans appreciate that the i.m.f. is bankrupt and that if the euro were ever to encounter some existential crisis the i.m.f. is not going to bail out the euro but bitcoin could potentially bail out the euro and they talk about bitcoin being able to extinguish debt this is generally the terms used by the austrian school of economics that talk about gold as the only debt extinguisher that is worthy of the name and now we have bitcoin so the only thing we don't have is the majority of the austrian economic school adopting or accepting bitcoin for what it is and we are but they will they will fall like dominoes one by one they will all come over to the side of the debate and the citi group also this past week while the world's media was paying attention to the china story citi group also said that reserve managers may be starting to look at bitcoin
ceased to exist if the euro does go belly up the german authorities could potentially still collect tax if everyone started using bitcoin that's a good example of german forward thinking well the germans appreciate the engineering behind but the germans appreciate that the i.m.f. is bankrupt and that if the euro were ever to encounter some existential crisis the i.m.f. is not going to bail out the euro but bitcoin could potentially bail out the euro and they talk about bitcoin being able to...
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i mean how many people in new york state who were spending 50% of everything that they make in taxes, say hey listen, i would be willing to spend another 5% more to make the trains and bridges and airports better. who trusts government any more to do that? >> listen, my question for the group as a whole is everyone who has read about these incredibly hi-tech high-speed trains in europe and asia, it's not like they haven't been proposed in florida. there was a proposal for a high-speed train. but in this country is there an appetite, because joe said is the problem we don't throw enough money. your points about percentage of gdp. we're spending more and more money on ballooning entitlements. we spend plenty of money on infrastructure. if you drive from new york to maine you can see how different states manage their infrastructure dollars differently by when the potholes end and start up again. >> one they are thing about percentage of gdp. dwight eisenhower didn't have made care and medicaid take up the budget. all of the percentages are going to be declining including defense. >> i ag
i mean how many people in new york state who were spending 50% of everything that they make in taxes, say hey listen, i would be willing to spend another 5% more to make the trains and bridges and airports better. who trusts government any more to do that? >> listen, my question for the group as a whole is everyone who has read about these incredibly hi-tech high-speed trains in europe and asia, it's not like they haven't been proposed in florida. there was a proposal for a high-speed...
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let's raise taxes and spend more money on education. we spend more money per student than any other country in the world. and yet we're falling further and further behind. your wife also very involved in education reform. i mean it seems so many people have taken a real interest in this over the past decade. and the numbers keep slipping. >> they keep slipping. i'll quote my wife on this. her view is having worked in charter schools and curriculum reform is that there's no silver bullet. what might work in tennessee might not work in arizona, might not work in new york. >> one size fits all does not work. >> there's not a kind of, i don't want to sound like a states rights guy but there's not a national answer to this. it is, in fact, a national security issue. it's about imperial decline. >> mike, a very interesting thing about this study, poland one of the great success stories. one of the things they did was they focused more on who went to traditional colleges and who was moved over to vo tech areas. that is one area we have to real
let's raise taxes and spend more money on education. we spend more money per student than any other country in the world. and yet we're falling further and further behind. your wife also very involved in education reform. i mean it seems so many people have taken a real interest in this over the past decade. and the numbers keep slipping. >> they keep slipping. i'll quote my wife on this. her view is having worked in charter schools and curriculum reform is that there's no silver bullet....